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CALGARY, ALBERTA--(Marketwire - Sept. 27, 2012) - Antioquia Gold Inc. ("Antioquia Gold") (TSX VENTURE:AGD)(OTCQX:AGDXF) is pleased to announce Phase 2 drilling at the Guaico deposit, at its flagship Cisneros Project in Colombia, has been completed and has extended the Guaico mineralization to a vertical depth of 350 metres.

Positive results have been received for 7 of the 12 drill holes drilled at Guaico with results for the remaining 5 holes expected in 3 to 4 weeks. Highlights of the results of the seven holes received to date can be found in Table 1 below. These include; 10.8 g/t Au over 6.6 metres, including33.2 g/t Au over 1.8 metres in drill hole GCO12-029 and 12.4 g/t Au over 3.85 metres, including 32.7 g/t Au over 1.5 metres in drill hole GCO12-027. Drill hole locations are illustrated in Figure 1 and a Composite Section view of the Guaico deposit illustrating structures defined to date, along with 2012 extensions to these structures (Figure 2) are attached and can be found on the company's website; link to www.antioquiagoldinc.com.

Table 1. Highlights of Phase-2 Drilling; Guaico Deposit.

Drill Hole

From

To

Length (m)*

Au (g/t)

Cu (%)

GCO12-025

214.10

215.80

1.70

0.806

GCO12-026

132.65

136.15

3.50

2.082

Including

134.80

136.15

1.35

4.228

GCO12-027

155.70

159.55

3.85

12.398

Including

158.10

159.55

1.45

32.670

GCO12-027

177.85

180.20

2.35

6.893

Including

177.85

179.20

1.35

11.910

GCO12-027

188.20

190.50

2.30

3.457

GCO12-028

82.90

85.00

2.10

2.276

GCO12-029

295.40

296.90

1.50

1.589

GCO12-029

343.15

349.75

6.60

10.837

Including

343.15

344.35

1.20

10.982

Including

347.50

349.25

1.75

33.229

Including

348.40

349.25

0.85

2.260

GCO12-029

455.10

472.10

17.00

0.348

Including

467.05

468.60

1.55

2.463

GCO12-029

455.10

484.10

29.00

0.349

Including

479.90

482.20

2.30

1.578

GCO12-030

32.95

35.35

2.40

7.002

Including

32.95

34.80

1.85

9.074

GCO12-031

180.25

181.60

1.35

0.423

Note: *Intervals reported are drilled thickness and may not represent true width.

Phase 2 drilling commenced on June 26, 2012 with 4,393.4 metres of drilling completed at the Guaico deposit.

Drilling during 2012 at the Guaico deposit has been successful in further delineating the various structures comprising the Guaico deposit and all mineralized structures defined remain open to depth and along strike. Drill hole GCO12-031 intersected anomalous gold north of the Cisneros Fault suggesting that the Guaico mineralized system continues north of this fault. Furthermore, the company is also extremely encouraged by the presence of a broad Au+Ag+Cu mineralized system intersected at depth in GCO12-029. This zone, defined by 0.348 g/t Au over 17.0 metres and 0.349% Cu over 29.0 metres (plus significant Ag), is suggestive of a separate mineralized system occurring at Guaico, the significance of which remains to be defined by drilling.

Phase 3 of the 2012 drilling program is currently ongoing with 4 holes totaling 2,000 metres at the Guayabito deposit; these holes are to follow-up on successes from earlier this year (refer to press release of August 8, 2012). Once these holes have been completed in early October 2012, the drilling program will be suspended until January 2013. This will allow all results to be compiled, the geological model to be modified and an NI 43-101 resource report prepared.

We refer readers to the March 12, 2012, August 8, 2012 and September 11, 2012 News Releases for further information regarding the 2012 drill program and Cisneros Project.

"The occurrence of high-grade gold mineralization at depth and anomalous gold mineralization north of the Cisneros Fault is extremely encouraging at Guaico. The deep mineralization immediately increases the size of the Guaico deposit. Mineralization occurring along strike and north of the Cisneros Fault suggests additional drilling at Guaico could increase deposit size along strike as well", comments Ian Fraser, Chief Geologist for Antioquia Gold.

Regional exploration of 9 identified targets at the Cisneros project continues in order to define drill targets to be tested in 2013. Field work is comprised of geological mapping, prospecting and soil geochemical profiles. The Cisneros property regional exploration program is an integral part of Antioquia Gold's future as it is designed to confirm the potential and the extent of multiple gold occurrences on the Cisneros property.